Shipping Household & Personal Clearing agent
English/Thai Law Office
Easy quick check service. We arrange a full service for foreigners from worldwide whether it be China, Korea to USA, UK, EU with our
ONE STOP SHOP SERVICE 2018.
25 YEARS IN THE REAL ESTATE BUSINESS IN CHIANGMAI WITH FOREIGN
& THAI STAFF WE SPECIALIZE IN ASSISTING FOREIGNERS AND THAI
IN EVERY FACET OF BUYING PROPERTY IN THAILAND TO PROTECTION & INSURANCE
MAKING YOU FEEL AT HOME. OUR NEW APPROACH IS A SAFEGUARD
TRANSFER PROPERTY FEE
Normally shared 50-50% with the seller?? but ask first as the seller may pay all and is based on the appraised value of the property. We assist all buyers and sellers and guide the buyer
LEGAL REGISTRATION FEE
Based on the total rent payable over the lease term, and is normally shared equally between the lessor and lessee,at the start but check with the other party
SPECIFIC BUSINESS TAX:
Specific Business Tax (SBT) is paid by companies and individuals who have owned the property under five years. It is based on the official appraised value or the contracted price, whichever is highest.You may be exempt from SBT if they have used the property as their principal residence and have had their name in the household registration certificate for at least one year.
PROPERTY TAXES THAILAND: There is a property sales tax of 0.11% of assessed value or the sale price, whichever is higher, as well as a transfer fee of 0.01% of the assessed value of the land. Also a stamp fee of 0.5% of the assessed value or the sale price - again whichever is higher.
However, there is no property sales tax if:
- The seller has owned the property for at least five years.
- The seller received the property as an inheritance.
- The seller has used the property as his primary residence for at least one year prior to the sale.
Once you have acquired the property, there are 2 different types of tax levied on property in Thailand that you need to be aware of:
Land Tax is an annual tax levied on land ownership equivalent to just a few Baht per rai. The amount is often so miniscule that in practice the body charged to collect it, rarely bothers to do so. When they do collect it, its usually after several years when the amount has accumulated.
Stamp Duty paid when SBT is not applicable and is based on the official appraised value or the contracted price, whichever is higher.
WITHOLDING TAX (WHT)
If the seller is a company, the WHT on the sale of the property is calculated at 1% of the official appraised value or the contracted price, whichever is higher. If the seller is an individual, the WHT is based on the individual's marginal tax rate (except that the first 100,000 baht is taxed at 5% rather than falling under the tax-free threshold) after deducting from the official appraisal price a standard deduction based on the number of years of ownership.
STRUCTURES USAGE TAX:
This only applies to properties used for commercial purposes. This is applicable at the rate of 12.5% on the actual or assessed gross rental value of the property. However, this notional value is well below the commercial market rental value.
TRANSFERRING FUNDS TO BUY PROPERTY:
Buying a house using Thai Baht, ensure that your funds are transferred to Thailand in foreign currency and converted to Thai Baht here. The receiving bank will issue a Foreign Exchange Transaction Form confirming the transaction for individual inward transfers exceeding 20,000 US$, which is one of the documents you may need in the future if you wish to repatriate funds without incurring tax penalties.
Repatriation of investment funds and repayment of overseas borrowing in foreign currency can be remitted freely upon submission of supporting evidence. The Foreign Exchange Transaction Form mentioned above, or in respect of a foreign currency loan and the loan contract. Remittance of funds without proper documentation could be regarded as income and become liable for tax and sums under $5000 are not acceptable.
LEASE, SELL TOP END PROPERTIES, FACTORIES, SPECIALIZING IN COMMERCIAL PROPERTIES TO RESORTS; HIGH END HOMES & LAND PLUS FACTORIES. WE CAN SOLVE YOUR PROBLEMS IF YOU BUY YOURSELF USING OUR LAW SERVICES.
NO HIDDEN COSTS TOTAL DISCRETION ----- FOREIGN PARTNERS---- IN BUSINESS OVER 25 YEARS.
A 30-year lease can be a good idea to a freehold
purchase or usufract, or a Thai company (7
PARTNERS) can be established with Thai majority shareholders. Foreigners
only own 49% shares in a company with foreigner
ownership. We can assist you to make sure your
company is safeguarded. Remember if you need advice ask us.
value added tax (VAT) system, is subject to 7% tax rate.
Producers, wholesalers, providers of services, retailers,
exporters and importers are affected as with Thai companies
employing foreigners. When you apply you will receive back an
A4 size certificate which you frame on your Office wall. However
please photocopy and use a copy because only 20% Thais pay income
tax and these certificates can be copied, sold and altered. The
same goes for your Company registration.
VAT is paid monthly, calculated as: Output tax - Input tax = Tax paid
where output tax is VAT which the business collects from the
purchaser when a sale is made, input tax is VAT a business pays to
the seller of a goods or service which is then used in the
business. If the calculation is a plus figure, the business sends
the remaining tax to the Revenue Department no later than 15 days
after the end of each month. If a negative balance, the business
gets a refund in the form of cash or a tax credit, which must be
paid the next month. Please remember foreigners who now want
a work permit must file for VAT as well so therefore all companies
with foreign workers with work permit are subject to register for
VAT before a work permit is issued. When you pay your monthly VAT
you normally receive back the receipt via registered mail. It pays
also to have copies of these receipts as well as another set of
books just to make sure. remember if you use electronic accounts
this is not allowed. Invoice books are still used & there must
be 4 copies per invoice.If you make a mistake filling out an
invoice you must fold that invoice and start again.
1/. Exports 2/. Services provided in Thailand for persons in foreign countries
3/. International transportation by air and sea by Thai juristic persons.
Foreign juristic persons may enjoy zero percent when its country applies zero percent to Thai juristic persons operating there
4/. Sale of goods or services to civil service or state
enterprises under foreign loan or aid schemes
5/. Sale of goods or services to the UN and its agencies, foreign embassies and consulates
6/. Sale of goods or services between bonded warehouses, between operators in export processing zones, or between the former and the latter. Operators whose gross earnings from the domestic sale of goods and services exceed 600,000 baht, but are less than 1,200,000 baht per year, can choose between paying a gross turnover tax of 1.5 percent or the normal VAT. However, operators paying the gross turnover tax may not offset this
tax by charging VAT to their customers in any step of production. The
above is now clear due to foreigners who now must be registered
1/. Operators earning less than 600,000 baht a year
2/. Sale or import of agricultural products, livestock, and agricultural inputs, such as fertilizer, and feed
3/. Sale or import of published materials and books
4/. Auditing, legal services, health services plus other professional services
5/. Cultural and religious services
6/. Educational services
7/. Services provided by employees under employment contracts
8/. The sale of goods as specified by Royal Decree
9/. Goods exempt from import duties under the Industrial Estate Authority o Thailand (IEAT) Act
10/.Domestic transport (excluding airlines) and international transport (excluding air and sea lines).
SPECIFIC Business Tax (SBT)
A specific business tax of 3% is levied, in lieu of VAT, on the following:
1/. Commercial banks and similar businesses
2/. Insurance companies
3/. Financial securities firms and credit financiers
4/. Sales on the stock exchange
5/. Sales of non-movable properties
6/. Pawn shops.
The SBT is computed on the monthly gross receipts at the
Type of BusinessTax Rate Banking or similar business:
finance, securities and credit finance business3%
Insurance - Life 2.5%- Insurance against loss
Sale of immovable property in commercial manner for profit 3%
REMITTANCE ON PROFITS:
Remittance tax applies to profits transferred from a Thailand branch to its head office
overseas rated at 10% remitted before tax, and must be paid by the remitting office of the offshore company within seven days of the date of remittance. Outward remittances for purchase of goods, certain business expenses, principal on loans to different entities and returns on capital investment, are not subject to an outward remittance tax. The tax does not apply to dividends or interest payments remitted out of Thailand by a company or partnership; these are taxed at the time of payment. Section 70 of the Revenue Code addresses income paid to foreign juristic persons. When a company or partnership incorporated under a foreign law and not carrying on business in Thailand receives “assessable income” paid either from or in Thailand, the payer is usually required to deduct income tax at a rate of 15% of the gross remittance.
A flat 15 percent rate is effective on all assessable income except dividend
income being 10%.
There is no withholding tax on capital gains or on the share of profit paid to foreign investors in mutual funds, if in the SET.
Remittance of funds may not be necessary in
order to incur either the dividend or interest tax liabilities, which may be incurred by making book entries.
Taxes may be paid on-line. You will be able to make electronic payments (e-payments) for all
categories of taxes, including income tax, following the department's launch of VAT payments, its first online
service. Paying taxes online, you must apply for the service at http://www.rd.go.th . The Revenue Department will then ask to check a taxpayer's identity in person before they receive a user ID and password.
But you must have an account with one of three commercial banks - Krung Thai Bank, Siam Commercial Bank or Bank of
Asia. Later the service will be extended to those with accounts with Thai Farmers Bank, Citibank and Bangkok Bank.
A lack of basic computer skills of the taxpayer rather than lack of confidence in e-transaction security
were reasons why this isn't popular. The Revenue Department now provides an electronic manual with step-by-step procedures.
Corporate taxpayers are also encouraged to use the online VAT payment system.
If companies paid VAT on-line and were eligible for a VAT refund, they would receive it within 30 days, compared to 60 days.
Thailand's foreign / Thai Real Estate company offering you real estate services all over
Want that house or condo to retire
in, look no further. We help you lease, rent OR BUY houses, land, businesses or condo complexes
at the price you want to spend and make sure your
contract is made the way you want it. We have
teamed up with a complete service advertising package & 2 top Law Offices in
Bangkok & ChiangMai for the delicate work. We work throughout Thailand in from Phuket, Rayong, Pattaya, Bangkok, Chiangmai, Chiangrai & NE whatever one wishes to purchase even BOI--Board of Investment
WHAT WE OFFER
EMAIL US TODAY FOR DETAILS
Whether it is
buying, selling, renting
or leasing all
kinds of properties, businesses,
land and condominiums right to Commercial properties, we have something for you
including our own Thai lawyer.offer full law
services from ChiangMai to Bangkok to Phuket.
INDEMNITY: Our Company does not conduct conveyancy of property sales, title
searches and lease agreements as we use our Law Office to do these. If you do
not have a lawyer then we can advise you & recommend one. All conveyancy
procedures in Thailand should be conducted by a qualified Law Office and we do
not advise you to use any of our Company staff nor others to assist you even
though you feel they may cut corners for you or save you money. Our Company is
not responsible other than assisting clients to purchase, sell, rent or lease
& we will not be held responsible or accountable. Feel free to ring us if
you have a problem & require advise about our services or you are not sure
what you are signing: Ask to speak to our Manager: